April 28, 2012 – SPAIN – Spanish unemployment has hit a new record high, official figures have shown. The number of unemployed people reached 5,639,500 at the end of March, with the unemployment rate hitting 24.4%, the national statistics agency said. The figures came hours after rating agency Standard & Poor’s downgraded Spanish sovereign debt. Official figures due out on Monday are expected to confirm that Spain has fallen back into recession. Earlier this week, the Bank of Spain said the economy contracted by 0.4% in first three months of this year, after shrinking by 0.3% in the final quarter of last year. Other figures released on Friday showed that Spanish retail sales were down 3.7% in March from the same point a year ago, the 21st month in row sales have fallen. In the first three months of the year, 365,900 people in Spain lost their jobs. The country has the highest unemployment rate in the European Union and it is expected to rise further this year. The rate has risen sharply since April 2007, when it stood at 7.9%. “The figures are terrible for everyone and terrible for the government…Spain is in a crisis of huge proportions,” Foreign Minister Jose Manuel Garcia-Margallo said. The new government has announced reforms to the labour market, including cutting back on severance pay and restricting inflation-linked salary increases, that it hopes will ease the problem. These measures have angered unions, which have organized widespread general strikes in protest. The government has also introduced drastic spending cuts designed to reduce its debt levels and meet deficit targets agreed with the European Union. These cuts are contributing to Spain’s economic contraction. “In Spain today, a cycle similar to Greece is starting to develop,” said HSBC chief economist Stephen King. “The recession is so deep that when you take one step forward on austerity, it takes you two steps back.” –BBC

Crash of Stock Market 1929 + World War II starts 1939 = 10 years, length of war 6 years, 1 day = 16 years. Total time it takes for Germany to recover from World War II, 1952 = 7 years 16 + 7 = 23 years. The Wall Street crash began in 2008. 2008 + 23 = 2031. Could today’s violent-prone societies even survive that long in such turmoil? 23 years of misery for the world and that was with no population boom, before peak oil, with few natural disasters, and without every nation mired in sovereign debt. Today, the problems inhibiting a recovery are almost 3 times worst. Anybody else beginning to see the scope of the problem and why I believe radical change is coming to a planet near you? This is what the Bible calls ‘distress of nations with perplexity’ or ‘no way out.’ I don’t mean to sound pessimestic but without some type of an intervention from Christ; the world is doomed.

I completely agree with you, Alvin. Those of us who have opened eyes and hearts can see that this world is doomed, completely doomed, without Divine intervention. For example, the rate of extinction of species on this planet is the same at this moment in time than 65 millions years ago. Those of us without faith in The One can only use denial of the reality of this world to survive psychologically-speaking. Christ is coming and we need to welcome Him in our hearts with humility, simplicity, and emptiness of our selves.. Hallelujah!

Don’t lose heart, there will be an intervention. With all changes we are experiencing it comes with a fair amount of free floating anxiety. Try blocking those fear thoughts with scripture. Doing this keeps me centered and focused on the promises and blessings. I feel that the cosmic rays are changing our atomic structure in a way that is preparing us for the future. We are co-creators in this process, giving love and compassion opens our hearts and helps advance us spiritually. When you maintain that love vibration its really hard for fear to get a foothold on you. Yes from man’s point of view, the world could look doomed. God will have the last word. Jesus is coming back, all eyes will see him in his glory!

I don’t think you’re being pessimistic just stating the possibilities without sugar coating it – that is what I appreciate. I’m sure it seems like all hope is lost but we cannot lose hope in ourselves… Everyday I read your posts and it gives me hope that we will somehow survive this – it helps me alot, I can deal with things better knowing what’s possibly going wrong and why. Thank you again and again for this site.

Actually USA is at 8.2% unemploymenthttp://www.tradingeconomics.com/united-states/unemployment-rate
However, it can change due to fact that companies have been venturing elsewhere in foreign countries rather than United States… just recently Audi automobile company are going to build their factory in Mexico which is at 5% unemployment, and people who were from Mexico originally are now going back to Mexico because of issues with employment.

These are only the official statistics, thus governmental, and our government, as all governments, continually lies to us. Some say that the unemployment rate in the US is closer to 20%. As I used statistics as a scientist, I can tell you that one can make statistics say whatever you want; garbage in, garbage out!

Two things I find interesting..It seems the European Union is not really a union at all..at least not like the states in the USA..and also how the governments are all trying to lower their costs for the taxpayer so that the citizens can spend and create jobs but big banks still want to foreclose on properties and not give a break on payments to enhance spending and big corporations are squeezing the life out of their employees thereby stifling any chance for the economy to grow because people who do have jobs have no income to spend beyond very basic needs which leaves others unemployed.

I believe the unemployment rate is not accurate in the least, it is my understanding that they only base the numbers on persons actively claiming unemployment and receiving compensation. If the numbers of those who are unemployed but not qualified for compensation or not actively filing claims where added I would think the numbers could possibly be many times higher.

I read the blog, it is interesting perspective… However, while Dr. May insisted on 17% unemployment, I have to appreciate him finding the number using all factors… I’m not a statistic expert. Actually 17% unemployment should be considered as unemployment and underemployment. That is a big problem with college grads being underemployed or not at all. I am aware of government fudging facts to make things appealing. It is very typical of government to do that, especially on election year. Obama is very skilled at being charismatic and “problem solver”. We will have to wait and see come November as it comes as showdown. Also, it is very likely that the government unemployment rate only based on those who are filing unemployment.

“HSBC chief economist Stephen King.” Sorry, I just though that the name of the chief economist was interesting, especially for anyone who has ever read a Stephen King book. Even with that, this article doesn’t bode well. I pray everyone is prepared. I do rely on Scripture. God is in control.

I would like to add this point. First, I agree with Dan and Robert regarding
the unemployment numbers.
I want to put forward the term”class warfare” in which there is an attack on the wealthy in the USA by the current administration and its supporters.
I believe anti-semitism will increase as a result of economy’s tanking because many people associate Jews with banking and they always seem so successful. Right now, Obama is courting them for votes, but as his record shows he has none little he promised during the election. He has done the opposite.
The world will find someone to blame. In some countries, the spirit of nationalism will add to anti-semitism. What is the purpose? I believe God wants his people back home, in Israel, the place he chose for them.
He will allow certain things to happen for the eyes of the jews to be opened and someday soon, Israel will be the only real safe place
for them to live. I do not glorify this, but its coming. There are already reports of anti-semitism in Russia and Europe on the rise.
The economies of the world are dying a slow death to be replaced by another. By the way, I saw on the internet that Germany has allowed “Mein Kampf”written by you-know-who, to be read in German schools……
Just an opinion…………….

I also believe intervention will occur. Sometimes it feel like everything is going out of control, everywhere. This economic debt worldwide seems beyond any possibility of ever becoming managable. Austerity does not work and leads to all sorts of dreadful consequences for people.
And then the war merchants, with weapons that can cripple the planet for eons. And the impression that very soon one of them will not be able to resist the temptation to press that button.
Now earth change are taking place on a scale that is unpecedented, and what is causing all this is still not understood. Scientists can break each event down and explain it logically, but cannot tell you why there is a massive culmulation of events worldwide. (except to say it’s your imagination)
Like most people on here, I cannot speak to anyone about all this because most of the world is asleep. I used to wish they were’nt, but now think maybe it might be for the best. Just afraid of what would happen if people realised how close we are to devestation.
If I had to guess when intervention will happen, I would say, when the world is jolted awake.

It’s out of control: “And upon earth distress of nations with perplexity; the sea and the waves roaring…and then shall they see the Son of man coming in a cloud with power and great glory.” Luke 22:25,26

The unemployement rate that the US Dept of Labor reports is based on the number of people collecting unemployment benefits. The millions who have exhausted their benefits and still have not found work? They are not reported.

This is so perfect! I really need this kind of information for my economic research paper. Can anyone help me out by helping me answer this question: Why do some claim the financial industry has “corrupted out political system.” What is seen to be the relationship between politics, regulation, and academics, and how could this relationship lead to problems in our financial system?